Colombia Trade

Colombia: Exports contract at a steeper rate in November

January 7, 2016

In November, exports shrank 37.7% over the same month last year, which was a deterioration from October’s 36.9% drop. According to the National Statistical Office (DANE), the result came on the back of sharper falls in exports of petroleum and oil derivatives as well as mining products.

Imports declined 22.8% in October (the most recent month for which data are available), which was slightly less than September’s 22.6% contraction. The trade balance recorded a USD 1.6 billion deficit in October, which was a deterioration from the USD 1.3 billion deficit recorded in the same month of the previous year.

Panelists participating in the LatinFocus Consensus Forecast expect that exports will rise 15.5% in 2016 and expand 8.6% in 2017.

Author:Eric Denis , Economist

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According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 18 January, industrial production rebounded in November following three consecutive months of contractions.